TCR_Public/060902.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Saturday, September 2, 2006, Vol. 10, No. 209

                             Headlines

ADELPHIA COMMS: Files July 2006 Monthly Operating Report
CALPINE CORP: Posts $336 Million Net Loss in June 2006
KAISER ALUMINUM: Files June 2006 Monthly Operating Report
MERIDIAN AUTOMOTIVE: Posts $10.5 Million Net Loss in June 2006
OWENS CORNING: Files May 2006 Monthly Operating Report

PLIANT CORP: Files June 2006 Monthly Operating Report
WERNER LADDER: Files July 2006 Monthly Operating Report
WERNER LADDER: Delaware Posts $11.4 Million Net Loss in July 2006
WERNER LADDER: Penn. Files July 2006 Monthly Operating Report
WERNER LADDER: WIP Tech. Files July 2006 Monthly Operating Report

                             *********

ADELPHIA COMMS: Files July 2006 Monthly Operating Report
--------------------------------------------------------

             Adelphia Communications Corporation, et al.
                Unaudited Consolidated Balance Sheet
                        As of July 31, 2006
                       (Dollars in thousands)

                               ASSETS

Cash and cash equivalents                            $10,182,299
Restricted cash                                           91,045
TWC Class A Common Stock                               4,750,147
Proceeds from Sale Transaction held in escrow            698,302
Receivable for securities                                  5,228
Property and equipment, net                                7,016
Other assets                                             244,733
                                                     -----------
Total Assets                                         $15,978,770
                                                     ===========

                LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable                                         $52,406
Payable to non-filing entities                             1,443
Payable to creditors of the JV Debtors                   588,864
Income and other taxes payable                           614,169
Other accrued liabilities                                532,247
Liabilities subject to compromise                     16,592,466
                                                     -----------
Total liabilities                                    $18,381,595

Stockholders' equity:
    Series preferred stock                                   397
    Class A and Class B common stock                       2,548
    Additional paid-in capital                         9,516,510
    Accumulated other comprehensive income                    60
    Accumulated deficit                              (11,894,403)
    Treasury stock, at cost                              (27,937)
                                                     -----------
Total stockholders' equity                            (2,402,825)
                                                     -----------
Total liabilities and stockholders' equity           $15,978,770
                                                     ===========

             Adelphia Communications Corporation, et al.
           Unaudited Consolidated Statement of Operations
                      Month Ended July 31, 2006
                       (Dollars in thousands)

Revenue                                                 $395,667
Cost and expenses:
    Direct operating and programming                     242,129
    Selling, general and administrative                   23,936
    Investigation, re-audit and sale transaction co        2,294
    Depreciation and amortization                         73,021
    Impairment of long-lived assets                       11,394
    Provision for uncollectible amounts from Rigase            -
    Gains on dispositions of long-lived assets              (339)
                                                     -----------
Operating income (loss)                                  $43,232

Other income (expense):
    Interest expense                                     (60,681)
    Other income (expense) - net                               -
                                                     -----------
       Total other expense - net                         (60,681)
                                                     -----------
Loss from continuing operations before
    reorganization expenses                              (17,449)

Reorganization expenses due to bankruptcy                 (9,536)
                                                     -----------
Loss from continuing operations before income taxes      (26,985)

Income tax expense                                       (12,000)
Share of losses of equity affiliates - net                (1,083)
Minority's interest in subsidiary losses - net             1,664
Preliminary gain on Sale Transaction, net              5,906,884
                                                     -----------
Net loss                                              $5,868,480
                                                     ===========

             Adelphia Communications Corporation, et al.
           Unaudited Consolidated Statement of Cash Flows
                      Month Ended July 31, 2006
                       (Dollars in thousands)

Cash flows from operating activities:
    Net loss                                          $5,868,480
    Adjustments to reconcile net loss to net cash
    provided by (used in) operating activities:
       Depreciation and amortization                      73,021
       Impairment of long-lived assets                    11,394
       Provision for uncollectible amounts from Rig          839
       Gains on disposition of long-lived assets            (339)
       Amortization of debt issuance costs                   226
       Impairment of cost & available for sale investments     -
       Provision for loss contingencies                        -
       Reorganization expenses due to bankruptcy           9,536
       Deferred tax expense (benefit)                     12,000
       Share in losses of equity affiliates - net          1,083
       Minority interest in losses of subsidiaries        (1,664)
       Preliminary gain on Sale Transaction, net      (5,906,884)
       Other noncash gains                                     -
       Depreciation, amortization and other non-cash
          items from discontinued operations                   -
       Change in operating assets & liabilities          (53,191)
                                                     -----------
Net cash provided by operating activities before
payment of reorganization expenses                       $14,501

Reorganization expenses paid during the period           (10,861)
                                                     -----------
Net cash provided by (used in) operating activities        3,640

Cash flows from investing activities:
    Expenditures for property, plant and equipment       (29,567)
    Changes in restricted cash                           (83,800)
    Proceeds from Sale Transaction                    11,761,818
    Proceeds from sale of investments                          -
    Other                                                 (1,148)
                                                     -----------
Net cash used in investing activities                 11,647,303

Cash flows from financing activities:
    Proceeds from debt                                    35,000
    Repayments of debt                                (2,235,366)
    Payment of debt issuance costs                             -
                                                     -----------
Net cash provided by financing activities             (2,200,366)

Change in cash and cash equivalents cash               9,450,577

Cash, beginning of period                                731,722
                                                     -----------
Cash, end of period                                  $10,182,299
                                                     ===========

                   About Adelphia Communications

Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/-- is the fifth-largest
cable television company in the country.  Adelphia serves
customers in 30 states and Puerto Rico, and offers analog and
digital video services, high-speed Internet access and other
advanced services over its broadband networks.  The Company and
its more than 200 affiliates filed for Chapter 11 protection in
the Southern District of New York on June 25, 2002.  Those cases
are jointly administered under case number 02-41729.  Willkie Farr
& Gallagher represents the ACOM Debtors.  PricewaterhouseCoopers
serves as the Debtors' financial advisor.  Kasowitz, Benson,
Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP
represent the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11 protection
on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through
06-10642).  Their cases are jointly administered under Adelphia
Communications and its debtor-affiliates chapter 11 cases.
(Adelphia Bankruptcy News, Issue Nos. 147; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CALPINE CORP: Posts $336 Million Net Loss in June 2006
------------------------------------------------------

                       Calpine Corporation
              Condensed Consolidating Balance Sheet
                       As of June 30, 2006

                             ASSETS

Current assets:
   Cash & cash equivalents                        $844,102,000
   Accounts receivable, net                        881,545,000
   Margin deposits & other prepaid expense         307,129,000
   Inventories                                     150,457,000
   Restricted cash                                 473,471,000
   Current derivative assets                       277,443,000
   Current assets held for sale                     39,542,000
   Other current assets                            119,211,000
                                               ---------------
Total current assets                             3,092,900,000

   Restricted cash, net of current portion         194,539,000
   Notes receivable, net of current portion        157,804,000
   Project development costs                        24,247,000
   Investments                                      63,457,000
   Deferred financing costs                        169,661,000
   Prepaid lease, net of current portion           199,911,000
   Property, plant & equipment, net             14,293,342,000
   Goodwill                                         45,160,000
   Other intangible assets, net                     52,297,000
   Long-term derivative assets                     517,627,000
   Other assets                                    628,704,000
                                               ---------------
Total assets                                   $19,439,649,000
                                               ===============

               LIABILITIES & STOCKHOLDERS' DEFICIT

Current liabilities:
   Accounts payable                               $488,624,000
   Accrued payroll and related expense              39,765,000
   Accrued interest payable                        181,050,000
   Income taxes payable                             99,073,000
   Notes payable & other borrowings                187,558,000
   Preferred interests                               9,124,000
   Capital lease obligations                       286,852,000
   CCFC financing                                  783,394,000
   CalGen financing                              2,510,365,000
   Construction/project financing                1,987,135,000
   DIP Facility                                      3,500,000
   Current derivative liabilities                  396,583,000
   Other current liabilities                       313,313,000
                                               ---------------
Total current liabilities                        7,286,336,000

   Notes payable and other borrowings              467,777,000
   Preferred interests                             579,122,000
   Capital lease obligations                           366,000
   Construction/project financing                  419,998,000
   DIP Facility                                    994,750,000
   Deferred income taxes                           348,996,000
   Deferred revenue                                135,045,000
   Long-term derivative liabilities                678,960,000
   Other liabilities                               152,883,000
                                               ---------------
Total liabilities not subject to compromise     11,064,233,000
Liabilities subject to compromise               14,963,726,000

Minority interests                                 275,284,000

Stockholders' equity (deficit):
   Common stock                                        569,000
   Additional paid-in capital                    3,268,331,000
   Additional paid-in capital, loaned shares       258,100,000
   Additional paid-in capital, returnable shares  (258,100,000)
   Accumulated deficit                         (10,020,362,000)
   Accumulated other comprehensive loss           (112,132,000)
                                               ---------------
Total stockholders' deficit                     (6,863,594,000)
                                               ---------------
Total liabilities & stockholders' deficit      $19,439,649,000
                                               ===============

                       Calpine Corporation
         Condensed Consolidating Statement of Operations
                 For period ending June 30, 2006

Revenue:
   Electricity and steam revenue                  $460,539,000
   Transmission sales revenue                         (215,000)
   Sales of purchased power & gas
      for hedging and optimization                  84,771,000
   Mark-to-market activities, net                   26,792,000
   Other revenue                                     2,535,000
                                               ---------------
Total revenue                                      574,422,000

Cost of revenue:
   Plant operating expense                          69,875,000
   Royalty expense                                   2,038,000
   Transmission purchase expense                     6,732,000
   Purchased power and gas
      for hedging and optimization                  52,813,000
   Fuel expense                                    274,658,000
   Depreciation & amortization expense              34,219,000
   Operating plant impairments                       2,851,000
   Operating lease expense                           7,109,000
   Other cost of revenue                             6,889,000
                                               ---------------
Total cost of revenue                              457,184,000
                                               ---------------
Gross profit                                       117,238,000
Equipment, development project & other impairments  62,917,000
Project development expense                          1,409,000
Research and development expense                       877,000
Sales, general and administrative expense           18,546,000
                                               ---------------
Income (loss) from operations                       33,489,000
Interest expense                                    96,130,000
Interest (income)                                   (2,459,000)
Minority interest expense                              473,000
(Income) loss from repurchase of debt issuances         24,000
Other (income) expense, net                         (2,942,000)
                                               ---------------
Loss before organization items, benefit for
income taxes and cumulative effect of a change
in accounting principle                            (57,737,000)

Reorganization items                               316,814,000
                                               ---------------
Loss before benefit for income taxes and
cumulative effect of a change in accounting
principle                                         (374,551,000)

Provision (benefit) for income taxes               (38,210,000)
                                               ---------------
Net loss                                         ($336,341,000)
                                               ===============

                       About Calpine Corp.

Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants.  Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces.  Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services.

The Company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.  (Calpine Bankruptcy News, Issue No. 25; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or     
215/945-7000)


KAISER ALUMINUM: Files June 2006 Monthly Operating Report
---------------------------------------------------------
Kaiser Aluminum Corporation filed with the Court an illegible
copy of its balance sheet as of June 30, 2006.  Kaiser reported
approximately $1.57 billion in total assets, including:

   Cash                                              $36,648,000
   Trade Receivables                                 113,610,000
   Inventories                                       123,112,000
   Investments in and advances to subsidiaries        26,672,000
   Intercompany receivables/payables, net             (4,133,000)

Kaiser reported at least $4.67 billion in liabilities, including:

   Accounts payable                                  $56,712,000
   Accrued interest                                    1,168,000
   Accrued salaries, wages & related expenses         36,910,000
   Accrued post retirement benefit - current                   -
   Other accrued liabilities                          60,585,000
   Payable to affiliates                              33,013,000
   Long-term debt - current position                   1,127,000
   Long-term liabilities                              17,516,000
   Accrued post-retirement benefit obligation                  -
   Long-term debt                                      1,212,000
   Liabilities subject to compromise               4,461,520,000

            Kaiser Aluminum Corporation -- All Debtors
                Unaudited Statement of Operations
                For the Month Ended June 30, 2006
                        (In Thousands)

Net Sales                                               $114,362
Costs and expenses:
   Cost of products sold                                 131,678
   Depreciation & amortization                             1,829
   Selling, administrative, R&D and general                5,284
   Other operating charges (benefits), net                 5,655
                                                     -----------
Total costs and expenses                                 144,446

Operating income (loss)                                  (30,084)

Other income (expense):
   Interest expenses, net                                     (3)
   Reorganization items                                   (2,789)
   Other - net                                               (56)
                                                     -----------
Income (loss) before income taxes and                    (32,932)
   minority interest
(Provision) benefit for income taxes                       3,826
Minority interests                                             -
Equity in income (loss) of subsidiaries                       31
                                                     -----------
Net income (loss)                                       ($29,075)
                                                     ===========

            Kaiser Aluminum Corporation -- All Debtors
     Schedule of Consolidated Cash Receipts and Disbursements
                For the Month Ended June 30, 2006
                        (In Thousands)

Receipts:
   Trade Receivables
      KACC and certain other entities' receivables       $89,305
      KAII Receivables                                    51,954
                                                     -----------
   Total Trade Receivables                               141,259

   Asbestos Insurance Recoveries                               -
   COBRA Receipts                                            523
   Proceeds from Hedging Settlements                       2,569
                                                     -----------
Total Receipts                                           144,351

Disbursements:
   Inventory/raw materials                                87,695
   Capital expenditures                                    4,522
   Maintenance, materials, etc.                            4,312
   Freight                                                 6,596
   Utilities/energy                                        3,907
   Hourly payroll                                          8,454
   Salaried payroll                                        3,516
   Hedging activities                                        319
   Pension contributions                                     126
   VEBA Advances                                           2,253
   Medical - current employees                             2,723
   Annual insurance premiums                                   -
   Workers' compensation                                     656
   Corporate general and administrative                    5,261
   JV Fundings-primary, net of reimbursements                  -
   Other Disbursements                                     6,313
                                                     -----------
Total Operating and G&A Disbursements                    136,653

Reorganization items                                       2,229
                                                     -----------
Total Disbursements                                      138,882
                                                     -----------
Net Cash Flow                                              5,469

Beginning Bank Cash Balances                              33,989
                                                     -----------
Ending Bank Cash Balances                                 39,458
                                                     -----------
Reconciling Items                                         (2,810)
                                                     -----------
Ending Book Cash Balances                                $36,648
                                                     ===========

A copy of the document Kaiser delivered to the Clerk is available
at no charge at http://researcharchives.com/t/s?10fe

                      About Kaiser Aluminum

Headquartered in Foothill Ranch, California, Kaiser Aluminum
Corp. -- http://www.kaiseraluminum.com/-- is a leading producer    
of fabricated aluminum products for aerospace and high-strength,
general engineering, automotive, and custom industrial
applications.  The Company, along with its Jamaican subsidiaries
-- Alpart Jamaica Inc. and Kaiser Jamaica Corporation -- filed
for chapter 11 protection on Feb. 12, 2002 (Bankr. Del. Case No.
02-10429), and has sold off a number of its commodity businesses
during course of its cases.  Corinne Ball, Esq., at Jones Day,
represents the Debtors in their restructuring efforts. Lazard
Freres & Co. serves as the Debtors' financial advisor.  Lisa G.
Beckerman, Esq., H. Rey Stroube, III, Esq., and Henry J. Kaim,
Esq., at Akin, Gump, Strauss, Hauer & Feld, LLP, and William P.
Bowden, Esq., at Ashby & Geddes represent the Debtors' Official
Committee of Unsecured Creditors.  The Debtors' Chapter 11 Plan
became effective on July 6, 2006.  On June 30, 2004, the Debtors
listed US$1.619 billion in assets and US$3.396 billion in debts.  
(Kaiser Bankruptcy News, Issue No. 104; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 609/392-0900)


MERIDIAN AUTOMOTIVE: Posts $10.5 Million Net Loss in June 2006
--------------------------------------------------------------

             Meridian Automotive Systems - Composites
                 Operations, Inc. and Subsidiaries
               Unaudited Consolidated Balance Sheet
                       As of June 30, 2006
                          (In Thousands)

CURRENT ASSETS:
    Cash                                                      -
    Accounts receivable, net                            $80,690
    Intercompany receivable                              15,218
    Inventories                                          64,279
    Tooling costs in excess of billings and others       31,650
                                                     ----------
       TOTAL CURRENT ASSETS                             191,837
                                                     ----------
    Property, plant and equipment, net                  219,088
    Intangible assets                                    15,246
    Investment in subsidiaries                           23,863
    Other assets                                         11,622
                                                     ----------
       TOTAL ASSETS                                    $461,656
                                                     ==========

CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE:
    Current portion of long term debt                  $326,975
    Accounts payable                                     51,202
    Accrued expenses                                     43,440
    Tooling billings in excess of costs                   6,012
                                                     ----------
       TOTAL CURRENT LIABILITIES                        427,629
                                                     ----------

    Liabilities subject to compromise                   487,725

    Non-Current Liabilities Not Subject to Compromise:
       Other long-term liabilities                        8,975
       Accumulated post-retirement benefit obligation    23,838
                                                     ----------
       TOTAL LIABILITIES                                948,167
       SHAREHOLDERS' EQUITY                            (486,511)
                                                     ----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY             $461,656
                                                     ==========

              Meridian Automotive Systems - Composite
                 Operations, Inc. and Subsidiaries
                 Unaudited Statement of Operations
                        June 1 to 30, 2006
                          (In Thousands)

Net sales                                               $72,404
Cost of sales                                            66,616
                                                     ----------
Gross profit                                              5,788

Selling, general and administrative expenses              2,612
Restructuring charges                                     2,792
                                                     ----------
Operating income (loss)                                     384

Interest expense, net                                     8,463
Other (expense) income                                       25
Chapter 11 and related reorganization items               2,444
                                                     ----------
Loss before provision for income taxes                  (10,498)
(Benefit) Provision for income taxes                         (5)
                                                     ----------
NET LOSS                                               ($10,493)
                                                     ==========

              Meridian Automotive Systems - Composite
                 Operations, Inc. and Subsidiaries
                 Unaudited Statement of Cash Flows
                        June 1 to 30, 2006
                          (In Thousands)

OPERATING ACTIVITIES:
    Net loss                                           ($10,493)
    Adjustments required to reconcile net loss to net
     cash provided by (used in) operating activities:
       Depreciation, amortization, and impairment         4,564
       Change in working capital and other operating
        items                                            11,129
                                                     ----------
     Net cash provided by (used for) operating
      activities before reorganization items              5,200
                                                     ----------
     Operating cash flows from reorganization items:
        Chapter 11 and related reorganization items       2,444
        Payments on Chapter 11 and related reorg items   (2,269)
                                                     ----------
     Net cash provided by Chapter 11 and related
      reorg items                                           175

     Net cash provided by (used for) operating
      activities                                          5,375

INVESTING ACTIVITIES:
    Additions to property and equipment                  (1,998)
    Proceeds from sale or property and equipment             23
                                                     ----------
    Net cash used for investing activities               (1,975)
                                                     ----------

FINANCING ACTIVITIES:
    Proceeds from prepetition borrowings                      -
    Repayments of prepetition borrowings                      -
    Proceeds from DIP credit facility                    32,600
    Repayments of DIP credit facility                   (36,000)
    Repayments on prepetition long-term debt                  -
    Deferred financing costs capitalized                      -
                                                     ----------
Net cash (used for) provided by financing activities     (3,400)
                                                     ----------
Net increase (decrease) in cash                               -
                                                     ----------
Cash and Cash Equivalents, beginning of period                -

Cash and Cash Equivalents, end of period                      -
                                                     ==========

Headquartered in Dearborn, Mich., Meridian Automotive Systems,
Inc. -- http://www.meridianautosystems.com/-- supplies
technologically advanced front and rear end modules, lighting,
exterior composites, console modules, instrument panels and other
interior systems to automobile and truck manufacturers.  Meridian
operates 22 plants in the United States, Canada and Mexico,
supplying Original Equipment Manufacturers and major Tier One
parts suppliers.  The Company and its debtor-affiliates filed for
chapter 11 protection on April 26, 2005 (Bankr. D. Del. Case Nos.
05-11168 through 05-11176).  James F. Conlan, Esq., Larry J.
Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at
Sidley Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon
L. Morton, Esq., Edward J. Kosmowski, Esq., and Ian S. Fredericks,
Esq., at Young Conaway Stargatt & Taylor, LLP, represent the
Debtors in their restructuring efforts.  Eric E. Sagerman, Esq.,
at Winston & Strawn LLP represents the Official Committee of
Unsecured Creditors.  The Committee also hired Ian Connor
Bifferato, Esq., at Bifferato, Gentilotti, Biden & Balick, P.A.,
to prosecute an adversary proceeding against Meridian's First Lien
Lenders and Second Lien Lenders to invalidate their liens.  When
the Debtors filed for protection from their creditors, they listed
$530 million in total assets and approximately $815 million in
total liabilities.  (Meridian Bankruptcy News, Issue No. 37;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


OWENS CORNING: Files May 2006 Monthly Operating Report
------------------------------------------------------

                           Owens Corning
                           Balance Sheet
                        As of May 31, 2006
                           (In Thousands)

Current Assets:
    Cash and cash equivalents                        $1,010,232
    Receivables                                         476,816
    Receivables - intercompany                        1,065,692
    Inventories, net of LIFO reserve                    222,594
    Insurance for asbestos litigation claims                  -
    Deferred income taxes                                     -
    Income tax receivable                                   926
    Other current assets                                 30,253
                                                    -----------
Total Current Assets                                  2,806,514

Other Assets:
    Insurance for asbestos litigation claims             75,220
    Restricted cash                                     198,768
    Restricted cash and securities - Fibreboard               -
    Deferred income taxes                             1,432,737
    Goodwill                                             48,568
    Investment in affiliates                             32,359
    Investment in subsidiaries                        2,022,050
    Notes receivable - intercompany                       5,270
    Other non-current assets                            393,055
                                                    -----------
Total Other Assets                                    4,208,027

Plant & Equipment:
    Land                                                 34,252
    Buildings & leasehold improvements                  556,780
    Machinery & equipment                             2,196,562
    Construction in progress                            193,185
    Less: Accumulated Depreciation                    1,659,697
                                                    -----------
Net Plant & Equipment                                 1,321,082
                                                    -----------
TOTAL ASSETS                                         $8,335,622
                                                    ===========

Liabilities not Subject to Compromise:
    Accounts payable & accrued liabilities             $567,134
    Accrued postpetition interest                       800,996
    Intercompany liabilities                          1,234,544
    Short-term debt                                           -
    Long-term debt - current portion                      1,367
                                                    -----------
Total Current Liabilities                             2,604,040

Long-Term Debt                                            9,191

Other:
Other employee benefits liability                       241,155
Pension plan liability                                  577,163
Other liability                                         184,139
                                                    -----------
Total Non-Current Liabilities                         1,002,457
                                                    -----------
Total Postpetition Liabilities                        3,615,688

Prepetition Liabilities:
    Accounts payable and accrued liabilities            270,247
    Other employee benefits liability                   175,175
    Pension plan liability                                    -
    Debt - US bank credit facility                    1,450,986
    Debt - bonds & other                              1,500,764
    Asbestos-related liability                        6,166,734
    Intercompany                                      2,452,666
    Other                                                     -
                                                    -----------
Total Prepetition Liabilities                        12,016,572
                                                    -----------
Total Liabilities                                    15,632,260

Minority Interest                                             -

Stockholder's Deficit:
    Common stock                                        697,252
    Deficit                                          (7,651,574)
    Accumulated Comprehensive Loss                       (5,112)
    Other                                              (337,203)
                                                    -----------
Net Stockholder's Deficit                            (7,296,637)
                                                    -----------
TOTAL LIABILITIES & STOCKHOLDER'S DEFICIT            $8,335,622
                                                    ===========

                           Owens Corning
                      Statement of Operations
                  For the Month Ended May 31, 2006
                           (In Thousands)

Net sales                                              $391,552
Cost of Sales                                           325,081
                                                    -----------
Gross Margin                                             66,471

Operating Expenses:
    Marketing & administrative expenses                  32,863
    Science & technology expenses                         2,582
    Provision for asbestos litigation claims                  -
    Insider compensation                                    823
    Restructure costs                                         -
    Other                                                (2,821)
                                                    -----------
Income from Operations                                   33,023

Other Expenses:
    Cost of borrowed funds                                  350
    Other                                                     -
                                                    -----------
Income Before Reorganization Items                       32,673

Reorganization Items:
    Professional fees                                     8,001
    U.S. Trustee quarterly fees                               -
    Interest earned on accum. cash from chapter          (3,043)
    (Gain) Loss from sale of equipment                        -
    (Gain) Loss from settlement of liabilities                -
    Other reorganization expenses                         2,171
                                                    -----------
Total Reorganization Expenses                             7,129
                                                    -----------
Income Before Income Taxes                               25,545
Provision for Income Tax                                 23,403
                                                    -----------
Income Before Minority Interest and Equity
    in Net Income of Affiliates                           2,142
Minority interest                                             -
Equity in net income of affiliates                          220
                                                    -----------
Net Income (Loss)                                        $2,362
                                                    ===========

                           Owens Corning
             Statement of Cash Receipts & Disbursements
                 For the Month Ended May 31, 2006
                           (In Thousands)

Cash, beginning of month                               $971,627

Receipts:
    Customer receipts                                   342,742
    Intercompany sales                                   39,072
    Loans & advances                                          -
    Sale of assets                                            -
    Other receipts                                        6,914
    Intercompany transfers                              106,096
    Transfers from DIP                                  183,439
                                                    -----------
Total Receipts                                         $678,262

Disbursements:
    Net payroll                                          32,176
    Payroll taxes                                           145
    Sales use & other taxes                               7,391
    Inventory purchases                                 144,398
    Insurance                                             2,605
    Administrative & selling                             66,465
    Other                                               115,016
    Intercompany transfers                               78,859
    Transfers to DIP                                    183,439
    Professional Fees                                     9,164
    U.S. Trustee Quarterly Fees                               -
    Court costs                                               -
    Adjustment                                                -
                                                    -----------
Total Disbursements                                    $639,657
Net Cash Flow                                            38,605
                                                    -----------
Cash, end of month                                   $1,010,232
                                                    ===========

Owens Corning (OTC: OWENQ.OB) -- http://www.owenscorning.com/--
manufactures fiberglass insulation, roofing materials, vinyl
windows and siding, patio doors, rain gutters and downspouts.
Headquartered in Toledo, Ohio, the Company filed for chapter 11
protection on Oct. 5, 2000 (Bankr. Del. Case. No. 00-03837).
Norman L. Pernick, Esq., at Saul Ewing LLP, represents the
Debtors.  Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered,
represents the Official Committee of Asbestos Creditors.  James J.
McMonagle serves as the Legal Representative for Future Claimants
and is represented by Edmund M. Emrich, Esq., at Kaye Scholer LLP.
(Owens Corning Bankruptcy News, Issue No. 139; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


PLIANT CORP: Files June 2006 Monthly Operating Report
-----------------------------------------------------

                 Pliant Corporation and Subsidiaries
                       Unaudited Balance Sheet
                         As of June 30, 2006

ASSETS
Current Assets:
    Cash and cash equivalents                        $26,115,000
    Receivables:
       Trade accounts                                124,935,000
       Allowance for doubtful accounts                (4,686,000)
       Other                                           4,571,000
    Inventories                                       99,866,000
    Prepaid expenses and other                         5,110,000
    Income taxes receivable                            1,404,000
    Deferred income taxes                             11,348,000
                                                  --------------
          Total current assets                       268,663,000

Plant and Equipment
    Gross asset value                                532,069,000
    Less accumulated depreciation                   (263,772,000)
                                                  --------------
       Plant and equipment -- net                    268,297,000

Goodwill -- Net (of Prev Amort)                      182,262,000
Intangible Assets, net                                14,657,000
Investment in Subsidiaries                           (42,551,000)
Other Assets                                          25,593,000
                                                  --------------
Total Assets                                        $716,921,000
                                                  ==============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
    Trade accounts payable                           $55,886,000
    Accrued liabilities:
       Customer rebates                                6,503,000
       Interest payable                               24,683,000
       Other                                          45,338,000
    Current Portion of long-term debt                544,051,000
    Due to affiliates                                (70,382,000)
    Deferred income taxes                                      -
    Income taxes payable                                       -
                                                  --------------
          Total current liabilities                  606,079,000

Long-Term Debt, net of current portion
    Revolving Credit Facility                                  -
    DIP Credit Facility                                        -
    Sr. Subordinated Bonds, 13%                                -
    Sr. Secured Notes, 11-1/8%                       250,000,000
    Sr. Secured Notes Discount Notes, 11-1/8%          7,423,000
    Sr. Secured Notes, 11-5/8%                       285,436,000
    Other                                              4,715,000
    Reclassification                                (544,051,000)
                                                  --------------
          Total long-term debt,
            net of current portion                     3,523,000

Loans from Affiliates                                          -
Other Liabilities                                     31,808,000
Deferred Income Taxes                                 28,420,000
Shares Subject to Mandatory Redemption                         -
Liabilities Subject to Compromise                    771,218,000
                                                  --------------
          Total Liabilities                        1,441,048,000
                                                  --------------
Commitments and Contingencies:
    Restricted Common Stock,
      net of shareholder loans                         6,645,000
    Redeemable Series B Preferred Stock                  102,000

Stockholders' Equity
    Common stock                                     104,983,000
    Additional Paid-in capital                        19,305,000
    Warrants                                          39,133,000
    Retained earnings                               (877,488,000)
    Stockholders' notes receivable                      (660,000)
    Other Comprehensive Income                       (16,147,000)
                                                  --------------
       Total Stockholders' Equity                   (730,874,000)
                                                  --------------
Total Liabilities and Stockholders' Equity          $716,921,000
                                                  ==============

                 Pliant Corporation and Subsidiaries
           Unaudited Consolidated Statement of Operations
                  For the month ended June 30, 2006

Net Sales                                           $558,482,000
Cost of Sales                                        491,827,000
                                                  --------------
    Gross Profit                                      66,655,000

Operating Expenses:
    Sales, General and Administrative                 32,774,000
    Research and Development                           4,578,000
    Restructuring and Other Costs                     63,851,000
                                                  --------------
       Total operating expenses                      101,203,000
                                                  --------------
Operating Income                                     (34,548,000)
Interest (Expense)                                    37,616,000
Other Income (Expense) -- Net                         (1,011,000)
Equity in Earnings of Subs                             2,835,000
                                                  --------------
    Income Before Income Taxes                       (73,988,000)
                                                  --------------
Income Tax Expense (Benefit)                             684,000
                                                  --------------
Net Income Before Discontinued Operations            (74,672,000)
    Discontinued Operations                                    -
                                                  --------------
Net Income                                          ($74,672,000)
                                                  ==============

                 Pliant Corporation and Subsidiaries
             Schedule of Cash Receipts and Disbursements
                  For the month ended June 30, 2006

Receipts
       Total receipts                               $558,482,000
                                                  --------------
Disbursements
    Payroll                                           62,551,000
    Payroll benefits and taxes                        11,038,000
    Raw material                                     343,988,000
    Freight                                           19,802,000
    Packaging                                         17,650,000
    Utilities                                         12,374,000
    Other direct costs                                 7,617,000
    Administration and Selling                        18,386,000
    Other fixed costs                                 18,210,000
                                                  --------------
       Total disbursements                           511,616,000
                                                  --------------
       Cash from operating activities                 46,866,000

Working capital changes
    Working capital and other requirements              (845,000)

Capital expenditures and interest
    Capital expenditures                             (17,941,000)
    Repayment of capital leases                         (653,000)
    Cash interest                                         31,000
    Income Taxes                                          55,000
    Professional fees                                 (8,255,000)
    U.S. Trustee Fees                                    (42,000)
    Court costs                                                -
                                                  --------------
Net cash flow                                         19,216,000
                                                  --------------

Cash Beginning of Year                                 6,910,000
    Net cash flow                                     19,216,000
    Intercompany transfer                                (10,000)
                                                  --------------
Cash End of Month                                    $26,116,000
                                                  ==============

Headquartered in Schaumburg, Illinois, Pliant Corporation --
http://www.pliantcorp.com/-- produces value-added film and
flexible packaging products for personal care, medical, food,
industrial and agricultural markets.  The Debtor and 10 of its
affiliates filed for chapter 11 protection on Jan. 3, 2006
(Bankr. D. Del. Lead Case No. 06-10001).  James F. Conlan, Esq.,
at Sidley Austin LLP, and Edmon L. Morton, Esq., and Robert S.
Brady, Esq., at Young, Conaway, Stargatt & Taylor, represent the
Debtors in their restructuring efforts.  The Debtors tapped
McMillan Binch Mendelsohn LLP, as their Canadian bankruptcy
counsel.   The Ontario Superior Court of Justice named RSM
Richter, Inc., as the Debtors' information officer in their
restructuring proceeding under Companies Creditors Arrangement Act
in Canada.  Kenneth A. Rosen, Esq., at Lowenstein Sandler, P.C.,
serves as counsel to the Official Committee of Unsecured
Creditors.  Don A. Beskrone, Esq., at Ashby & Geddes, P.A., is
local counsel to the Creditors' Committee.  As of Sept. 30, 2005,
the company had $604,275,000 in total assets and $1,197,438,000 in
total debts.  The Debtors emerged from chapter 11 protection on
July 19, 2006 (Pliant Bankruptcy News, Issue No. 22; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


WERNER LADDER: Files July 2006 Monthly Operating Report
-------------------------------------------------------

                           Werner Co.
                         Balance Sheet
                      As of July 31, 2006

ASSETS
Current Assets:
Cash and cash equivalents                           $27,943,000
Receivables, net                                     70,646,000

Income taxes receivable                               2,177,000
Inventories, net                                     65,317,000
Prepaid insurance and other                           7,046,000
                                                   ------------
Total current assets                                173,129,000

Property, plant & equipment, net                     76,494,000
Other assets:
Deferred financing fees, net                             85,000
Investment in subsidiaries and                       10,435,000
   other noncurrent assets                            8,197,000
                                                   ------------
Total other assets                                   18,717,000
                                                   ------------
TOTAL ASSETS                                       $268,340,000
                                                   ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable                                    $10,912,000
Accrued liabilities                                  23,433,000
Intercompany payable (receivables)                   81,304,000
First lien revolving credit facility                          -
Current maturities of long-term debt                  1,916,000
                                                   ------------
Total current liabilities                           117,565,000

Long-Term Liabilities:
Long-term debt                                       14,969,000
Reserve for product liability and
   workers' compensation claims                      17,197,000
Other long-term obligations                           2,116,000
Liabilities subject to compromise                   333,978,000
                                                   ------------
Total Liabilities                                   368,260,000

Convertible preferred stock                                   -

Shareholders' deficit:
Common stock                                                  -
Additional paid-in-capital                           13,901,000
Retained earnings (deficit)                        (217,758,000)
Accumulated other comprehensive income (loss)       (13,628,000)
N/R arising from stock loan plan                              -
                                                   ------------
Total Shareholders Deficit                         (217,485,000)
                                                   ------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT          $268,340,000
                                                   ============

                           Werner Co.
                    Statement of Operations
                     July 1 to 31, 2006

Net sales                                           $29,054,000
Total cost of sales                                  23,447,000
                                                   ------------
Gross profit                                          5,607,000

Total operating expenses                             11,488,000
                                                   ------------
Operating income (loss)                              (5,881,000)

Equity in net income (loss) of subsidiaries           2,080,000
Other income (expense), net                          (1,567,000)
                                                   ------------
Income (loss) before interest and taxes              (5,368,000)

Inter-company interest expense                                -
Interest expense                                        107,000

Income (loss) before income taxes                    (5,475,000)
Provision (benefit) for income taxes                  1,986,000
                                                   ------------
Net Income (Loss)                                   ($7,461,000)
                                                   ============

                           Werner Co.
                    Statement of Cash Flows
                      July 1 to 31, 2006

Cash flows provided (used) by
   operating activities                               ($216,000)

Cash Flows From Investing Activities:
Capital expenditures, net                              (390,000)
Proceeds from sale of property                           21,000
                                                   ------------
Net cash used in investing activities                  (369,000)

Cash Flows From Financing Activities:
Repayments of long-term debt                         (5,000,000)
Capital lease payments                                 (169,000)
Net borrowings under first lien revolving
   credit facility                                    5,024,000
Debt issuance costs                                    (925,000)
                                                   ------------
Net cash provided (used) by financing activities     (1,070,000)


Net increase (decrease) in cash and equivalents      (1,655,000)
Cash and equivalents at July 1, 2006                 29,598,000
                                                   ------------
Cash and equivalents at July 31, 2006               $27,943,000
                                                   ============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WERNER LADDER: Delaware Posts $11.4 Million Net Loss in July 2006
-----------------------------------------------------------------

                 Werner Holding Co. (DE), Inc.
                         Balance Sheet
                      As of July 31, 2006

ASSETS
Current Assets:
Cash and cash equivalents                                $2,000
Receivables, net                                              -
Income taxes receivable (payable)                      (799,000)
Inventories, net                                              -
Prepaid insurance and other                             377,000
                                                   ------------
Total current assets                                   (420,000)

Property, Plant & Equipment, Net
Other assets:
Deferred financing fees, net                                  -
Investment in subsidiaries                           11,140,000
Other noncurrent assets                            (217,485,000)
                                                   ------------
Total other assets                                 (206,345,000)
                                                   ------------
TOTAL ASSETS                                      ($206,765,000)
                                                   ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable                                              -
Accrued liabilities                                    $502,000
Intercompany payable (receivables)                 (309,663,000)
First lien revolving credit facility                 27,024,000
Current maturities of long-term debt                180,043,000
                                                   ------------
Total current liabilities                          (102,094,000)

Long-Term Liabilities:
Long-term debt                                       75,000,000
Reserve for product liability and
   workers' compensation claims                               -
Other long-term obligations                                   -
Liabilities subject to compromise                   148,892,000
                                                   ------------
Total Liabilities                                   223,892,000

Convertible preferred stock                                   -

Shareholders' Deficit:
Common stock                                                  -
Additional paid-in-capital                            2,650,000
Retained earnings (deficit)                        (331,213,000)
Accumulated other comprehensive income (loss)                 -
N/R arising from stock loan plan                              -
                                                   ------------
Total Shareholders Deficit                         (328,563,000)
                                                   ------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT         ($206,765,000)
                                                   ============

                 Werner Holding Co. (DE), Inc.
                    Statement of Operations
                      July 1 to 31, 2006

Net sales                                                    $0
Total cost of sales                                           -
                                                   ------------
Gross profit                                                  -

Total operating expenses                                  3,000
                                                   ------------
Operating income (loss)                                  (3,000)
Equity in net income (loss) of subsidiaries          (7,461,000)
Other income (expense), net                            (136,000)
                                                   ------------
Income (loss) before interest and taxes              (7,600,000)

Inter-company interest expense                                -
Interest expense                                      3,459,000

Income (loss) before income taxes                   (11,059,000)
Provision (benefit) for income taxes                    366,000
                                                   ------------
Net Income (Loss)                                  ($11,425,000)
                                                   ============

                 Werner Holding Co. (DE), Inc.
                    Statement of Cash Flows
                      July 1 to 31, 2006

Cash flows provided (used) by
   operating activities                                 ($1,000)

Cash Flows From Investing Activities:
Capital expenditures, net                                     -
Proceeds from sale of property                                -
                                                   ------------
Net cash used in investing activities                         -

Cash Flows From Financing Activities:
Repayments of long-term debt                                  -
Capital lease payments                                        -
Net borrowings under first lien revolving
   credit facility                                            -
Debt issuance costs                                           -
                                                   ------------
Net cash provided (used) by financing activities              -

Net increase (decrease) in cash and equivalents          (1,000)
Cash and equivalents at July 1, 2006                      3,000
                                                   ------------
Cash and equivalents at July 31, 2006                    $2,000
                                                   ============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WERNER LADDER: Penn. Files July 2006 Monthly Operating Report
-------------------------------------------------------------

                 Werner Holding Co. (PA), Inc.
                         Balance Sheet
                      As of July 31, 2006

ASSETS
Current Assets:
Cash and cash equivalents                                     -
Receivables, net                                              -
Income taxes receivable (payable)                      $549,000
Inventories, net                                              -
Prepaid insurance and other                              38,000
                                                   ------------
Total current assets                                    587,000

Property, Plant & Equipment, Net
Other assets:
Deferred financing fees, net                                  -
Investment in subsidiaries                        ($328,563,000)
Other noncurrent assets                                       -
                                                   ------------
Total other assets                                 (328,563,000)
                                                    -----------
TOTAL ASSETS                                      ($327,976,000)
                                                   ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable                                              -
Accrued liabilities                                           -
Intercompany payable (receivables)                 ($20,268,000)
First lien revolving credit facility                          -
Current maturities of long-term debt                          -
                                                   ------------
Total current liabilities                           (20,268,000)

Long-Term Liabilities:
Long-term debt                                                -
Reserve for product liability and
   workers' compensation claims                               -
Other long-term obligations                                   -
Liabilities subject to compromise                       690,000
                                                   ------------
Total Liabilities                                       690,000

Convertible preferred stock                          98,802,000

Shareholders' Deficit:
Common stock                                              1,000
Additional paid-in-capital                           18,807,000
Retained earnings (deficit)                        (425,802,000)
Accumulated other comprehensive income (loss)                 -
N/R arising from stock loan plan                       (206,000)
                                                   ------------
Total Shareholders Deficit                         (407,200,000)
                                                   ------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT         ($327,976,000)
                                                   ============

                 Werner Holding Co. (PA), Inc.
                    Statement of Operations
                      July 1 to 31, 2006

Net sales                                                    $0
Total cost of sales                                           -
                                                   ------------
Gross profit                                                  -

Total operating expenses                                      -

Operating income (loss)                                       -
Equity in net income (loss) of subsidiaries         (11,425,000)
Other income (expense), net                                   -
                                                   ------------
Income (loss) before interest and taxes             (11,425,000)

Inter-company interest expense                                -
Interest expense                                              -

Income (loss) before income taxes                   (11,425,000)
Provision (benefit) for income taxes                    (21,000)
                                                   ------------
Net Income (Loss)                                  ($11,404,000)
                                                   ============

                 Werner Holding Co. (PA), Inc.
                    Statement of Cash Flows
                      July 1 to 31, 2006

Cash flows provided (used) by
   operating activities                                      $0

Cash Flows From Investing Activities:
Capital expenditures, net                                     -
Proceeds from sale of property                                -
                                                   ------------
Net cash used in investing activities                         -

Cash Flows From Financing Activities:
Repayments of long-term debt                                  -
Capital lease payments                                        -
Net borrowings under first lien revolving
   credit facility                                            -
Debt issuance costs                                           -
                                                   ------------
Net cash provided (used) by financing activities              -

Net increase (decrease) in cash and equivalents               -
Cash and equivalents at July 1, 2006                          -
                                                   ------------
Cash and equivalents at July 31, 2006                        $0
                                                   ============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WERNER LADDER: WIP Tech. Files July 2006 Monthly Operating Report
-----------------------------------------------------------------

                    WIP Technologies, Inc.
                         Balance Sheet
                      As of July 31, 2006

ASSETS
Current Assets:
Cash and cash equivalents                                     -
Receivables, net                                              -
Income taxes receivable (payable)                   ($1,142,000)
Invetories, net                                               -
Prepaid insurance and other                                   -
                                                   ------------
Total current assets                                 (1,142,000)

Property, Plant & Equipment, Net
Other assets:
Deferred financing fees, net                                  -
Investment in subsidiaries                                    -
Other noncurrent assets                                       -
                                                   ------------
Total other assets                                            -

TOTAL ASSETS                                        ($1,142,000)
                                                   ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable                                              -
Accrued liabilities                                           -
Intercompany payable (receivables)                 ($10,900,000)
First lien revolving credit facility                          -
Current maturities of long-term debt                          -
                                                   ------------
Total current liabilities                           (10,900,000)

Long-Term Liabilities:
Long-term debt                                                -
Reserve for product liability and
   workers' compensation claims                               -
Other long-term obligations                                   -
Liabilities subject to compromise                             -
                                                   ------------
Total Liabilities                                             -

Convertible preferred stock                                   -

Shareholders' Deficit:
Common stock                                                  -
Additional paid-in-capital                                1,000
Retained earnings (deficit)                           9,757,000
Accumulated other comprehensive income (loss)                 -
N/R arising from stock loan plan                              -
                                                   ------------
Total Shareholders Deficit                            9,758,000
                                                   ------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT           ($1,142,000)
                                                   ============

                     WIP Technologies, Inc.
                    Statement of Operations
                      July 1 to 31, 2006

Net sales                                                $1,743
Total cost of sales                                           -
                                                   ------------
Gross profit                                              1,743

Total operating expenses                                  3,000

Operating income (loss)                               1,740,000
Equity in net income (loss) of subsidiaries                   -
Other income (expense), net                                   -
                                                   ------------
Income (loss) before interest and taxes               1,740,000

Inter-company interest expense                                -
Interest expense                                              -

Income (loss) before income taxes                     1,740,000
Provision (benefit) for income taxes                   (340,000)
                                                   ------------
Net Income (Loss)                                    $2,080,000
                                                   ============

                     WIP Technologies, Inc.
                    Statement of Cash Flows
                      July 1 to 31, 2006

Cash flows provided (used) by
   operating activities                                 ($4,000)

Cash Flows From Investing Activities:
Capital expenditures, net                                     -
Proceeds from sale of property                                -
                                                   ------------
Net cash used in investing activities                         -

Cash Flows From Financing Activities:
Repayments of long-term debt                                  -
Capital lease payments                                        -
Net borrowings under first lien revolving
   credit facility                                            -
Debt issuance costs                                           -
                                                   ------------
Net cash provided (used) by financing activities              -

Net increase (decrease) in cash and equivalents          (4,000)
Cash and equivalents at July 1, 2006                      4,000
                                                   ------------
Cash and equivalents at July 31, 2006                        $0
                                                   ============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed chapter 11
cases involving less than $1,000,000 in assets and liabilities
delivered to nation's bankruptcy courts.  The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                             *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published by
Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania,
USA, and Beard Group, Inc., Frederick, Maryland, USA.  Marie
Therese V. Profetana, Shimero Jainga, Joel Anthony G. Lopez,
Robert Max Quiblat, Emi Rose S.R. Parcon, Rizande B. Delos Santos,
Cherry A. Soriano-Baaclo, Christian Q. Salta, Jason A. Nieva,
Lucilo M. Pinili, Jr., Tara Marie A. Martin and Peter A. Chapman,
Editors.

Copyright 2006.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $725 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher Beard
at 240/629-3300.

                    *** End of Transmission ***